The global ventricular assist device market accounted for USD 1.32 billion in 2023 and is expected to reach at USD 4.09 billion by 2034 with a CAGR of 10.84% during the forecast period 2024-2034. The market will grow as a result of factors such as rising reimbursement policies, growing awareness and improved diagnosis, growing geriatric population, rising prevalence of heart failure, and technological advancements.
The global increase in heart failure cases is a major factor propelling the VAD market. Advanced cardiac support systems, such as VADs, are becoming more and more necessary as the population ages and the prevalence of cardiovascular disorders rises. VAD technology is constantly evolving, which has enhanced the functionality, longevity, and dependability of the devices. Adoption rates have increased as a result of device miniaturization, enhanced pump design, and improved control algorithms that have improved patient outcomes and decreased adverse occurrences. For instance, Abbott's HeartMate 3 Left Ventricular Assist Device (LVAD) was approved by the FDA in October 2023 as a destination therapy for patients with advanced heart failure.
By product, the left ventricular assist device segment accounted for the highest revenue-grossing segment in the global ventricular assist device market in 2023 owing to the increasing prevalence of advanced heart failure, rising adoption of LVADs as a bridge-to-transplant and destination therapy, and continuous technological advancements improving device reliability and patient outcomes. For instance, Medtronic announced in September 2023 that its HeartWare HVAD System, an implantable left ventricular assist device (LVAD), would be available in Japan. Additionally, the bi-ventricular assist device segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of biventricular heart failure, expanding indications for BiVAD therapy, and advancements in device technology enhancing its effectiveness in managing complex cardiac conditions.
By type of flow, the continuous flow segment accounted for the highest revenue-grossing segment in the global ventricular assist device market in 2023 owing to the growing preference for continuous flow technology due to its improved durability, reduced risk of device-related complications, and better patient outcomes compared to pulsatile flow devices. For instance, Abiomed announced in November 2023 that patients with decompensated right heart failure can now enroll in the RECOVER-DE Study, which is assessing the Impella RP heart pump. Additionally, the pulsatile flow segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for pulsatile flow devices in pediatric and certain adult populations, advancements in pulsatile flow technology improving hemocompatibility and reducing the risk of adverse events, and expanding applications in specific patient cohorts.
By application, the bridge-to-transplant segment accounted for the highest revenue-grossing segment in the global ventricular assist device market in 2023 owing to the growing prevalence of end-stage heart failure, rising adoption of VADs as a bridge-to-transplant therapy, and increasing wait times for heart transplantation, driving the need for temporary mechanical circulatory support. For instance, Berlin Heart reported in August 2023 that patient participation in its EXCOR Pediatric Heart Assist Device Post Approval Study (PAS) was complete. Additionally, the destination therapy segment is predicted to grow at the fastest CAGR during the forecast period owing to the expansion of indications for VADs beyond transplantation, increasing acceptance of VADs as a long-term therapy for non-transplant candidates, and improvements in device technology enhancing patient outcomes and quality of life.
By design, the implantable ventricular assist device segment accounted for the highest revenue-grossing segment in the global ventricular assist device market in 2023 owing to the increased preference for implantable devices due to their greater durability, lower risk of infection, and improved patient mobility compared to external or percutaneous devices. For instance, Terumo stated in December 2023 that its DuraHeart EX Heart Assist System, intended to treat end-stage heart failure, would be available in Europe. Additionally, the transcutaneous ventricular assist device segment is predicted to grow at the fastest CAGR during the forecast period owing to the advancements in technology enabling miniaturization and improved ease of use, reducing the invasiveness of implantation procedures, and expanding applications in both bridge-to-transplant and destination therapy settings.
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global ventricular assist device market in 2023 owing to the central role of hospitals in providing specialized cardiac care, availability of advanced infrastructure and expertise for VAD implantation and management, and increasing number of VAD implantation procedures performed in hospital settings. For instance, LivaNova announced the start of the REDUCE LAP-HF II research in July 2023, which would assess patients' use of Vagus Nerve Stimulation Therapy for heart failure. Additionally, the specialty clinics segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for outpatient VAD management services, increasing focus on personalized care and patient-centered approaches in specialty clinics, and expanding role of multidisciplinary teams in delivering comprehensive cardiac care beyond traditional hospital settings.
North American region is anticipated to have the highest revenue share during the forecast period owing to the presence of well-established healthcare infrastructure, high adoption rate of advanced medical technologies including VADs, favorable reimbursement policies, and increasing prevalence of heart failure in the region. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the expanding healthcare infrastructure, rising awareness about advanced cardiac therapies, increasing prevalence of cardiovascular diseases, and growing investments in healthcare across the Asia Pacific region. For instance, Fresenius Medical Care expanded its portfolio in the renal care market in November 2023 when it announced the acquisition of NxStage Medical, Inc., a major manufacturer of home hemodialysis systems.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
The global increase in heart failure cases is a major factor propelling the VAD market. Advanced cardiac support systems, such as VADs, are becoming more and more necessary as the population ages and the prevalence of cardiovascular disorders rises. VAD technology is constantly evolving, which has enhanced the functionality, longevity, and dependability of the devices. Adoption rates have increased as a result of device miniaturization, enhanced pump design, and improved control algorithms that have improved patient outcomes and decreased adverse occurrences. For instance, Abbott's HeartMate 3 Left Ventricular Assist Device (LVAD) was approved by the FDA in October 2023 as a destination therapy for patients with advanced heart failure.
By product, the left ventricular assist device segment accounted for the highest revenue-grossing segment in the global ventricular assist device market in 2023 owing to the increasing prevalence of advanced heart failure, rising adoption of LVADs as a bridge-to-transplant and destination therapy, and continuous technological advancements improving device reliability and patient outcomes. For instance, Medtronic announced in September 2023 that its HeartWare HVAD System, an implantable left ventricular assist device (LVAD), would be available in Japan. Additionally, the bi-ventricular assist device segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of biventricular heart failure, expanding indications for BiVAD therapy, and advancements in device technology enhancing its effectiveness in managing complex cardiac conditions.
By type of flow, the continuous flow segment accounted for the highest revenue-grossing segment in the global ventricular assist device market in 2023 owing to the growing preference for continuous flow technology due to its improved durability, reduced risk of device-related complications, and better patient outcomes compared to pulsatile flow devices. For instance, Abiomed announced in November 2023 that patients with decompensated right heart failure can now enroll in the RECOVER-DE Study, which is assessing the Impella RP heart pump. Additionally, the pulsatile flow segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for pulsatile flow devices in pediatric and certain adult populations, advancements in pulsatile flow technology improving hemocompatibility and reducing the risk of adverse events, and expanding applications in specific patient cohorts.
By application, the bridge-to-transplant segment accounted for the highest revenue-grossing segment in the global ventricular assist device market in 2023 owing to the growing prevalence of end-stage heart failure, rising adoption of VADs as a bridge-to-transplant therapy, and increasing wait times for heart transplantation, driving the need for temporary mechanical circulatory support. For instance, Berlin Heart reported in August 2023 that patient participation in its EXCOR Pediatric Heart Assist Device Post Approval Study (PAS) was complete. Additionally, the destination therapy segment is predicted to grow at the fastest CAGR during the forecast period owing to the expansion of indications for VADs beyond transplantation, increasing acceptance of VADs as a long-term therapy for non-transplant candidates, and improvements in device technology enhancing patient outcomes and quality of life.
By design, the implantable ventricular assist device segment accounted for the highest revenue-grossing segment in the global ventricular assist device market in 2023 owing to the increased preference for implantable devices due to their greater durability, lower risk of infection, and improved patient mobility compared to external or percutaneous devices. For instance, Terumo stated in December 2023 that its DuraHeart EX Heart Assist System, intended to treat end-stage heart failure, would be available in Europe. Additionally, the transcutaneous ventricular assist device segment is predicted to grow at the fastest CAGR during the forecast period owing to the advancements in technology enabling miniaturization and improved ease of use, reducing the invasiveness of implantation procedures, and expanding applications in both bridge-to-transplant and destination therapy settings.
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global ventricular assist device market in 2023 owing to the central role of hospitals in providing specialized cardiac care, availability of advanced infrastructure and expertise for VAD implantation and management, and increasing number of VAD implantation procedures performed in hospital settings. For instance, LivaNova announced the start of the REDUCE LAP-HF II research in July 2023, which would assess patients' use of Vagus Nerve Stimulation Therapy for heart failure. Additionally, the specialty clinics segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for outpatient VAD management services, increasing focus on personalized care and patient-centered approaches in specialty clinics, and expanding role of multidisciplinary teams in delivering comprehensive cardiac care beyond traditional hospital settings.
North American region is anticipated to have the highest revenue share during the forecast period owing to the presence of well-established healthcare infrastructure, high adoption rate of advanced medical technologies including VADs, favorable reimbursement policies, and increasing prevalence of heart failure in the region. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the expanding healthcare infrastructure, rising awareness about advanced cardiac therapies, increasing prevalence of cardiovascular diseases, and growing investments in healthcare across the Asia Pacific region. For instance, Fresenius Medical Care expanded its portfolio in the renal care market in November 2023 when it announced the acquisition of NxStage Medical, Inc., a major manufacturer of home hemodialysis systems.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product, Type of Flow, Application, Design, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Segmentation: Ventricular Assist Device Market Report 2023 - 2034
Ventricular Assist Device Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Left Ventricular Assist Device
- Right Ventricular Assist Device
- Bi-Ventricular Assist Device
- Total Artificial Heart
Ventricular Assist Device Market Analysis & Forecast by Type of Flow, 2023 - 2034 (Revenue USD Bn)
- Pulsatile Flow
- Continuous Flow
Ventricular Assist Device Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Bridge to Transplant
- Destination Therapy
- Bridge to Recovery
- Bridge to Candidacy
- Others
Ventricular Assist Device Market Analysis & Forecast by Design 2023 - 2034 (Revenue USD Bn)
- Implantable Ventricular Assist Device
- Transcutaneous Ventricular Assist Device
Ventricular Assist Device Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Cardiac Centers
- Ambulatory Surgical Centers
- Specialty Clinics
Ventricular Assist Device Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Ventricular Assist Device Market: Product Estimates & Trend Analysis
8. Ventricular Assist Device Market: Type of Flow Estimates & Trend Analysis
9. Ventricular Assist Device Market: Application Estimates & Trend Analysis
10. Ventricular Assist Device Market: Design Estimates & Trend Analysis
11. Ventricular Assist Device Market: End-user Estimates & Trend Analysis
12. Regional Market Analysis
13. North America Ventricular Assist Device Market
14. Europe Global Ventricular Assist Device Market
15. Asia Pacific Global Ventricular Assist Device Market
16. Latin America Global Ventricular Assist Device Market
17. MEA Global Ventricular Assist Device Market
18. Competitor Analysis
19. Company Profiles
Companies Mentioned
- Abbott Laboratories
- Medtronic plc
- Abiomed Inc.
- Berlin Heart GmbH
- Terumo Corporation
- LivaNova PLC
- Jarvik Heart Inc.
- SynCardia Systems LLC
- Fresenius SE & Co. KGaA
- Getinge AB
- St. Jude Medical Inc.
- CardiacAssist Inc.
- CardiacAssist Technologies
- ReliantHeart Inc.
- HeartWare International Inc.
